If you’re still not sure why inflation is bad, or what it’s doing to the value of your money, you need to click over to Aesop’s place and read his brutally acerbic article “Economics 101: Inflation“. This is why:
From 1932 to present, decoupled from actual gold backing, the Fed has stolen 98.9 cents on every dollar via inflation, by printing literal trillions of dollars of fiatbux, backed by nothing but love and kisses. The dollar bill in your pocket is worth less than its actual cost in ink, paper, and printing press energy to make. It’s finely-engraved toilet paper.
Inflation of US dollars, over 90 years’ time, stands at 8950%. It’s at 918% since just 1970.
. . .
What we call a “millionaire” today? That was the guy with only $11,000 in his pocket in 1930.
There’s more at the link.
It’s an excellent article to show to family and friends who continue to maintain that inflation is “only 7% – the Government says so!”, or who can’t or won’t accept that they’re getting poorer each and every day because of it. It lays the smackdown on those who refuse to face reality.